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Greece on Wednesday said it intends to unblock a subsidy worth $37.3 million (28.9 million euros) in order to build a Formula One racetrack to attract badly-needed tourism.
The development ministry said it will build the circuit near the western port city of Patras. The project will run to a total cost of 94.6-million-euros and will be build by private investment company racetrack Patras SA.
The government said the project will help create jobs and boost tourism in a country suffering from its fifth year of recession.
